Summary
The global Document Analysis Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Overview
Document analysis is a method for evaluating or checking documents both written and electronic (paper-based and Internet-transited) material. Electronic documents that might be utilized for document analysis as part of an investigation typically carry a variety of diverse forms which include: proposals; agendas; minutes of ongoing meetings; financial records; and documents that might have been created by computer-aided design (CAD) programs. The global document analysis market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global document analysis market is expected to witness significant growth during the forecast period, owing to proactive initiatives to digitalize content across enterprises.
Market Drivers
Increasing adoption of cloud-based document analysis solution is expected to drive growth of the global document analysis market during the forecast period. A number of organizations from various industries including life science, healthcare, and BFSI are increasingly adopting cloud-based document analysis solutions, in order to gather data efficiently and make documents more accessible and reliable. For instance, in May 2019, Hyperscience, a technology company, partnered with Blue Prism to explore new data entry automation capabilities for intelligent document processing. Hence, such factors are expected to drive growth of the global document analysis market during the forecast period. Furthermore, proactive initiatives that digitalize content across enterprises are expected to propel the global document analysis market growth over the forecast period.
Market Restraints
Challenges associated with government compliance are expected to hamper the global document analysis market growth over the forecast period.
Regional Insights
Among regions, North America is expected to witness significant growth in the global document analysis market during the forecast period. This is owing to increasing adoption of advanced document analysis solutions by enterprises in the region. Furthermore, Asia Pacific is expected to register a robust growth rate over the forecast period, owing to increasing requirement for advanced solutions.
Competitive Section
Major companies involved in the global document analysis market are ABBYY, WorkFusion, IBM Corporation, HCL Technologies, Hyperscience, Celaton, Kodak Alaris, Hyland, and OpenText.
For instance, in August 2020, Hyland Software, a U.S.-based developer of enterprise content management software, launched OnBase Foundation Enhancement Pack 4 (EP4) and Content Composer Foundation EP2 for a secure content services platform.
The Document Analysis Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Document Analysis Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- ABBYY (US)
- WorkFusion (US)
- Kofax (US)
- IBM (US)
- AntWorks (Singapore)
- Parascript (US)
- Automation Anywhere (US)
- Datamatics (India)
- Hyland (US)
- Extract Systems (US)
- HyperScience (US)
- OpenText (Canada)
- Infrrd (US)
- Celaton (UK)
- HCL Technologies (India)
- Kodak Alaris (UK)
- Rossum (Czech Republic)
- InData Labs (Belarus)
- Ephesoft (US)
- IRIS (Belgium)
By the Product Type, the market is primarily segmented into:
- Professional Services
- Managed Services
By Applications, the market is segmented into:
- split into
- Company
- School
- Library
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Document Analysis Market Report:
- To assess the size of the market by value and volume
- Analyze the Document Analysis Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Document Analysis Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Document Analysis Market
The Document Analysis Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Document Analysis Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
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